Sasol Climate Change Report 2023 - Book - Page 2
INTRODUCTION
TRANSFORMING FOR RESILIENCE
GOVERNANCE
CLIMATE ADVOCACY AND POLICY
DATA AND ASSURANCE
CONTENTS
Our suite of reports
Integrated Report
Concise communication on Sasol’s
strategy, governance, performance
and outlook, and how these lead to
the preservation and creation of value
over the short, medium and long term.
IR
INTRODUCTION
Sasol at a glance
2
Highlights of the year
3
Sasol’s climate change management approach
4
Year in review
6
Progressing efforts to achieve our targets
7
Message from the Chairperson of the SSEC
9
Message from the President and Chief Executive Officer
10
Our suite of reports is informed by the following standards
and initiatives.
SASOL LIMITED
INTEGRATED REPORT
for the year ended 30 June 2023
We have sought alignment with key reporting expectations
and compliance with all relevant legal requirements.
Progressing a sustainable Future Sasol
IR
Sustainability Report
The International Integrated Reporting
Framework
IR
South African Companies Act 71 of 2008, as amended
IR
AFS
Johannesburg Stock Exchange (JSE) Listings Requirements
IR
AFS
AFS
Communication on Sasol’s
sustainability journey reflective
of our environmental, social and
governance (ESG) performance.
SR
Message from the Chairperson of the Climate Change
Advisory Panel
11
King IV™ Report on Corporate Governance for South Africa, 2016
IR
Our commitment to climate action
12
International Financial Reporting Standards (IFRS)
IR
Improving our emissions reporting
14
Global Reporting Initiative (GRI) Sustainability Reporting Standards
SR
CCR
The links between FT, green hydrogen and decarbonisation
15
Task Force on Climate-related Financial Disclosures (TCFD)
IR
SR
Risks and opportunities
16
United Nations Advanced Reporting Criteria and Sustainable
Development Goals (SDGs)
SR
CCR
*
SASOL LIMITED
SUSTAINABILITY REPORT
for the year ended 30 June 2023
Progressing a sustainable Future Sasol
SR
AFS
20-F
Climate Change Report
Information on Sasol’s climate
change risk management process,
response and summary of work
underway to address our climate
change risks and opportunities.
CCR
TRANSFORMING FOR RESILIENCE
Resilience of our portfolio
19
The Future Sasol strategy
25
Implementing the Future Sasol strategy
27
Allocating capital
28
Energy Business
30
41
43
Offsets
44
Adaptation
46
Just transition
52
The Safety, Social and Ethics Committee
(SSEC) of the Sasol Limited Board (the Board)
is responsible for ensuring the integrity of our
sustainability and climate change reporting.
We confirm that the 2023 Climate Change
Report addresses all material matters relating
to climate change from a double materiality
perspective and fairly represents the Group’s
climate change performance. The SSEC,
authorised by the Board, approved this report
on 30 August 2023 for publication.
Information on Sasol’s advocacy
efforts and participation in policy
advocacy bodies.
TR
CLIMATE ADVOCACY AND
POLICY SUPPLEMENT
for the year ended 30 June 2023
Progressing a sustainable Future Sasol
CAPS
Signed on behalf of the SSEC:
63
CCR
* Financial data extracted from AFS and complies with IFRS
Sustainability certification
CLIMATE ADVOCACY AND POLICY
SR
SASOL LIMITED
Scope 3
Climate policy advocacy
Climate Advocacy and
Policy Supplement
CAPS
IR
Global tax regulations and principles
Directors’ approval
61
CCR
20-F
40
57
for the year ended 30 June 2023
JSE Sustainability and Climate Disclosures Guidelines
Sasol ecoFT
Executive remuneration
CLIMATE CHANGE REPORT
20-F
Sarbanes-Oxley Act of 2002
36
Governance
SASOL LIMITED
Progressing a sustainable Future Sasol
United States Securities and Exchange Commission
rules and regulations
Chemicals Business
GOVERNANCE
CCR
Muriel Dube // Chairperson of the SSEC
OUR THREE-PILLAR EMISSIONREDUCTION FRAMEWORK
Annual Financial Statements
AFS
People
REDUCE
EMISSIONS
Planet
SASOL LIMITED
ANNUAL FINANCIAL STATEMENTS
FUTURE
for the year ended 30 June 2023
SASOL
TRANSFORM
OPERATIONS
Progressing a sustainable Future Sasol
AFS
Profit
SHIFT THE
PORTFOLIO
Tax Report
TAX
Our prioritised SDGs are indicated;
this report primarily focuses on SDG 13 and 17.
SASOL LIMITED
TAX REPORT
for the year ended 30 June 2023
Progressing a sustainable Future Sasol
Regulatory developments
64
Sasol’s Climate Advocacy Declaration
67
DATA AND ASSURANCE
Performance data
69
TCFD index
70
Assurance statement
71
CA 100+ net zero benchmark assessment and Sasol’s
response
72
Forward-looking statement
74
Appendix: Sasol’s scope 3 emissions categories
75
TR
Reporting frequency
This annual report is focused on our
climate change risks, response and
work in the financial year, 1 July 2022
to 30 June 2023. Unless otherwise
stated, ‘2023’ refers to the
above-mentioned 12-month period.
This report is published annually and
should be read in conjunction with
our suite of annual reports, including
our 2023 Climate Advocacy and Policy
Supplement (CAPS).
A complete analysis of the
Group’s financial results,
with detailed financial
statements including the
Report of the Audit Committee.
We incorporate the ten Principles of the United
Nations (UN) Global Compact in our business
activities to uphold our purpose and values.
Our approach to tax reporting
including defining our tax
principles and fulfilling our
compliance and disclosure
obligations globally in accordance
with all relevant legislation.
Form 20-F
Our annual report filed with
the United States Securities
and Exchange Commission (SEC),
pursuant to our New York Stock
Exchange listing.
20-F
Our 2023 suite of annual reports reflects the clear actions taken to
deliver progress as well as plans and prospects ahead.
Principles
1 and 2
Principles
3, 4, 5 and 6
SASOL CLIMATE CHANGE REPORT 2023
Principles
7, 8 and 9
1
Principle 10
WWW
These reports are available on our website, www.sasol.com or on request from
Investor Relations. Additional content related to stakeholders’ burning issues and our
responses can also be sourced on our website. Contact details are on page 74 of this report.